32 Playne Street 9,214 SF 100% Leased Retail Building Frankston, VIC 3199 For Sale

32 Playne Street represents an exceptional triple-fronted freehold investment in the heart of Frankston’s CBD, a prominent and thriving location within the Mornington Peninsula growth corridor. Comprising a substantial two-level building of approximately 856 m² on a 741 m² site, this rare offering is positioned only 300 metres from Frankston Foreshore and within walking distance of major activity areas, retail precincts, and public transport hubs.
The fully integrated site includes three ground-floor retail/office tenancies and rooftop parking for 23 vehicles, ensuring ease of access for staff and clientele. Currently, the property secures an estimated income of $173,000 per annum from two tenants, including national gym operator Anytime Fitness and Mission Australia, with an additional value-add upside through lease-up of the remaining space and future rental growth.
Backed by 77 metres of combined street frontage, including 45 metres facing Port Phillip Bay, this high-profile corner asset provides exceptional brand exposure and significant future repositioning or redevelopment opportunities (STCA). Whether pursued as a strategic investment, an eventual development site, or a flagship owner-occupier holding, 32 Playne Street embodies a unique opportunity in one of Victoria’s most vibrant and evolving coastal hubs.